U.S. may lower Canadian lumber tariffs by 10%

The United States has signalled a potential reduction in tariffs on Canadian softwood lumber, but the overall burden on producers is set to remain largely unchanged, prolonging uncertainty in a sector already under strain. The U.S. Department of Commerce has issued a preliminary determination cutting combined antidumping and countervailing duties to about 24.83%, down from the current 35.16%. The revision would reduce antidumping duties to 10.66% from more than 20% and trim countervailing duties slightly to 14.17% for most producers. However, the current duty rate remains in force until a final decision expected ...